Entrepreneurship and Innovation

In trying to paintbrush background and scientific environs when Schumpeter`s visionary Theory of Economic Development (1912) came out classical and neoclassical thought as well as Marx’ Capital had been exposed already for some time to scholarly scrutiny by the learned community. In neither classical-neoclassical nor Marxist visions the entrepreneur explicitly figures. It is Schumpeter`s truly seminal interpretation of the capitalist process wherein the entrepreneur as such takes centre stage as the pioneering and driving force in a dialectic sense as in fact sort of a villain as the antithesis to the market system. As indeed an element constantly striving to outmanoeuver constraining competition to trick given market conditions and thereby challenging the “system itself; or more pointedly still: when and wherever possible to be or to become a monopolist. When relating this to modern entrepreneurship its pivotal role in a regional and global or more specifically so in a structural as well as developmental context Schumpeter`s vision nowadays in times of dynamic change may serve as a guide for any entrepreneurially oriented policy formulation.